Fiat and Crypto are both intangible value systems of belief, the difference being with coins like Bitcoin there is a limited supply as well as the value added by the blockchain. States can issue all the shitcoins they want but they won't see the masses lining up to grab huge bags because the fundamental motive to do so is lacking. It will still be a state issued currency when the whole point of Bitcoin is to be decentralised; The state is not invited!